The Beijing government will support the sale of 50 billion
yuan ($7.7 billion) of corporate bonds by property developers to
fund the construction of affordable housing, the Securities
Times reported yesterday, citing Zhang Guilin, president of
Beijing Zhuzong Group Co.

China may release a development plan for the construction
machinery industry in July, China Business News reported, citing
Su Zimeng, secretary general for the China Construction
Machinery Association. Su said he expects the industry’s sales
to grow an average 17 percent a year in the five years through
2015, the report said.

China will increase offshore wind-power installed capacity
to five gigawatts by 2015 and 30 gigawatts by 2020, Xinhua News
Agency reported, citing the National Energy Administration. A
public tender for the second round of offshore wind-power
concession projects, with a total installed capacity of up to 2
gigawatts, will be completed during the first half of 2012,
according to the report.

Dongfang Electric Corp. (600875 CH) advanced 4.4 percent to
24.73 yuan, the biggest gain since May 3. The power-equipment
producer said its controlling shareholder bought 5.6 million
shares between Dec. 1 and June 22, increasing its stake to more
than 50 percent, according to a Hong Kong stock-exchange filing.

Sichuan Minjiang Hydropower Co. (600131 CH) surged by the
10 percent daily limit to 7.87 yuan after saying a power plant
resumed production. The plant, which was damaged in an
earthquake in May 2008, has restarted, according to a statement
to the Shanghai Stock Exchange yesterday.